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Motive Television unable to buy loan notes back

Motive Television, the Tablet TV specialist, updated further on its convertible loan note debt.

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The firm specialises in tablet TV...

Motive Television (LON:MTV), the Tablet TV specialist, updated further on its convertible loan note debt.

The firm has been seeking to acquire the CLNs from the largest shareholder and at the end of January it announced that investor had agreed to extend the completion date of the purchase out to February 19 this year

However the firm said today it had been required to pay £150,000 plus £28,200 in legal fees in cash in order to acquire the £1.4mln of notes.

"The company has been unable to meet this requirement and accordingly the CLNs have not been acquired."

Quick facts: Motive Television Plc

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AIM:MTV
Market: AIM
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